GERMANY: Houghton Speaks

Alanson B. Houghton, U. S. Ambassador to Germany, home on leave, spoke
at Chicago about Germany. The burden of his speech was that the Experts'
Plan stood between Germany and utter ruin. He stressed the importance
of the loan to Germany (see REPARATIONS).

"Today, we find in Germany and elsewhere a frightful lack of available and
active capital. The factories are therethe men, the management; but
the capital to put these forces at work is not there and must in some way
be provided if Germany is to have an opportunity to function normally....